MedTech Innovator Announces Finalists for $150K Inaugural Asia Pacific Competition
Select companies to participate in final competition at The MedTech Forum in Singapore
LOS ANGELES and SINGAPORE, October 8, 2019 – MedTech Innovator, the premier nonprofit startup accelerator in the medical technology industry, today announced that Crely Healthcare, Inochi Care, NDR Medical, and Nesa Medtech have been selected as finalists to compete for title of 2019 Asia Pacific Grand Prize winner, out of more than 170 applicants. Attendees of The MedTech Forum, hosted by the Asia Pacific Medical Technology Association (APACMed), will vote for the Grand Prize winner of $150,000 on October 9 in Singapore.
“We are thrilled to recognize these outstanding companies as the four finalists for our inaugural Asia Pacific Program,” said Paul Grand, CEO of MedTech Innovator. “The audience at The MedTech Forum will be faced with the difficult decision of choosing only one winner out of a group of transformative startups dedicated to providing access to better healthcare solutions. Although only one company is selected, all 20 Showcase companies that participated in the Asia Pacific program are on an important path to improving patient lives and the healthcare system as a whole.”
The four finalist companies are developing transformative medical technology innovations in the areas of precision medicine, surgical advancements, and critical care.
- Crely Healthcare, based in Singapore, is developing a wearable digital health device to detect and prevent surgical site infections in patients who have undergone surgery.
- Inochi Care, based in New Delhi, India, is developing a multi-therapeutic wound healing device designed to overcome the challenges of complex wounds, such as diabetic foot ulcers, pressure sores and infections.
- NDR Medical, based in Singapore, is developing a robotics system that uses artificial intelligence and image processing to automate the targeting of lesions and expedite the diagnosis of critical illnesses.
- Nesa Medtech, based in Bengaluru, India, is developing a medical device to treat symptomatic uterine fibroids with an affordable, scarless and outpatient procedure.
During the competition finals, which will be held on the Plenary Stage at noon on Wednesday, October 9, each of the four companies will have seven minutes to pitch their technology and answer questions before a panel of four judges. After the presentations, the audience of more than 750 delegates will vote in real-time to select the winners. The first-place startup will take home a $150,000 non-dilutive cash prize. Second place will receive a $25,000 cash prize. There will also be a SG$50,000 cash prize and an invitation to join the qualifying round at the SLINGSHOT competition in Singapore awarded by Enterprise Singapore. Other prizes include a one-year residency awarded by JLABS @ Shanghai and a one-year software license award from Siemens Industry Software.
Judges include Peter Hawkes, head of New Business Development, Medical Devices Asia Pacific, Johnson & Johnson; Townsend Goddard, senior vice president and global head of Business Development at Olympus; Deep Tankha, Senior Director Marketing, Cardiac Rhythm Management, and Endoscopy at Boston Scientific, Asia Pacific; Andy Frye, senior vice president and president of Baxter, Asia Pacific.
Together with the senior leadership teams of its corporate partners and other judges, MedTech Innovator traveled to Japan, Australia, Singapore, and China to meet more than 35 candidates in person. Twenty companies were then selected to participate in the Asia Pacific Showcase program, which prominently features the most innovative medtech startups from the region. The organization received more than 170 applications for its Asia Pacific program this year.
MedTech Innovator works closely with stakeholders across the industry to foster the growth of early to mid-stage startups. MedTech Innovator’s 2019 Asia Pacific program sponsors include Johnson & Johnson Medical Device Companies, Amgen, Boston Scientific, JOHNAN, Olympus Medical Systems Group, and Terumo. The MedTech Innovator Asia Pacific Program is held in partnership with APACMed.
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About MedTech Innovator
Based in Los Angeles, Calif., MedTech Innovator is the premier nonprofit startup accelerator in the medical technology industry. Its mission is to improve the lives of patients by accelerating the growth of companies that are transforming the healthcare system. MedTech Innovator matches healthcare industry leaders with innovative early-stage and emerging growth medtech companies for mentorship and support. Founding sponsors include Johnson & Johnson and RCT Ventures, and annual program sponsors include Baxter, Amgen, NIPRO Medical Corp., Olympus Medical Systems Group, W. L. Gore & Associates, Inc., BTG, Fujikura Ltd., HOYA Corp., Maxim Integrated Ventures, Alira Health, EdgeOne Medical, Experien Group, Greenlight Guru, Proxima Clinical Research, Westwood & Wilshire, and Ximedica. The organization’s industry partners include AdvaMed, Health+Commerce, MedTech Strategist, and Wilson Sonsini Goodrich & Rosati. For more information about MedTech Innovator, visit https://medtechinnovator.org/ and follow @MedTechAwards on Twitter. To receive industry insights and highlights about MedTech Innovator’s current and alumni participant companies, subscribe to our monthly newsletter.
Media Contact:
Lara Lingenbrink
858.525.1414
